Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Supplemental Information Related to Leases

Supplemental information related to leases is presented in the table below (in thousands, except weighted-average term and discount rate):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020		2019
Operating lease cost	$	2,329		$	1,932		$	6,562	$	5,570
Cash paid for amounts included in the measurement of operating lease liabilities	2,699			2,211			7,427		6,139
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	1,998			1,133			8,645		3,384
	September 30, 2020			December 31, 2019
Weighted-average remaining lease term — operating leases	5.2 years			5.7 years
Weighted-average discount rate — operating leases	3.7		%	4.0		%

Maturities of Lease Liabilities

Maturities of lease liabilities are as follows (in thousands):

Year Ended December 31,	Operating Leases(1)
Remainder of 2020	$	2,746
2021	11,042
2022	9,831
2023	9,071
2024	8,299
2025 and thereafter	11,840
Total lease payments	52,829
Less: imputed interest(2)	4,754
Present value of lease liabilities	$	48,075

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(1)Operating lease payments exclude less than $0.1 million of legally binding minimum lease payments for leases executed but not yet commenced and includes $0.6 million for options to extend lease terms that were reasonably certain of being exercised.

(2)Imputed interest was calculated using the incremental borrowing rate applicable for each lease.